PC Jeweller share price jumped over 6% in morning trade on the BSE on Friday, 3 July, after the company said it witnessed healthy business growth in the first quarter of the current financial year (Q1FY27) and is set to become debt-free in the current quarter itself.
PC Jeweller shares opened at ₹9.96 against their previous close of ₹9.88 and jumped 6.2% to an intraday high of ₹10.49.
The jewellery stock jumps after the Q1FY27 business update
In an exchange filing after market hours on 2 July, PC Jeweller said its Q1FY27 consolidated revenue grew by approximately 21% year-on-year (YoY), reflecting significant progress in its ongoing turnaround journey.
Besides, the company claimed it continues to progress rapidly towards its goal of becoming debt-free, and it will achieve this goal in the current quarter itself.
PC Jeweller said it has “successfully reduced its outstanding debt that was payable to the banks under the terms of the joint settlement agreement, by approximately 24% during Q1FY27. With this reduction, the company has now reduced its outstanding debt by more than 90% as of the date, since the execution of the settlement agreement with banks on 30 September 2024.”
The repayment of remaining outstanding debt and attaining a debt-free status in the ongoing quarter itself will significantly improve the company’s financial position in the coming periods, said PC Jeweller.
(This is a developing story. Please check back for fresh updates.)
